In an effort to de-rail "Save Our Home" FULL portability, the Finance & Tax Committee passed PCB FT 06-08, and HJR 353 :Relating to Increased Homestead Exemption which is sponsored by Rep. Lopez-Cantera. These bills limit portability and in their present format, would end "Save Our Homes" as we know it today. Portability will be limited to only $100,000 and restricted to home sales within the same county. I have not finished fighting for FULL portability! I think capping future SOH benefits at $100,000 will severely impact, in a negative fashion, not only homesteads but the vibrancy of the Real Estate Market.

However, this PCB (Proposed Committee Bill) includes an increase in the Homestead exemption to $50,000. But other portions of this bill will cause one of the largest tax increases in the history of Florida . In order to make this bill more acceptable and fair to homestead Floridians, during the debate, I sponsored a number of amendments. Each of my amendments did not receive sufficient support from some of the committee members, and subsequently failed. However, I would like to give special thanks to Reps; Field; Carrol and Gottleib, who made an effort to improve the language and criteria of this bill.

The following committee members , Reps. Brummer; Stargel; Brown; Carrol; and Quinones, voted against full portability and supported PCB FT 06-07 in its present form, which in effect will end the "Save Our Homes" legislation which the citizens of Florida supported and voted on in 1992. Reps. Domino; Gottlieb; and Fields, voted against this bill and what could become the largest tax increase in the history of Florida .In conclusion, I would like to state that all is NOT LOST! I will continue to work in support of HJR 33 and FULL portability. I intend to lobby and gain support from other House Members to defeat this legislation and hope to gain sufficient votes in the House to save "Save Our Homes".

I will keep you informed of the progress of these bills. I feel that if we make a united effort and strongly voice our objections to committee and House members, pointing out the fallacy of this legislation and the negative tax impact it will have on homestead Floridians, we will prevail, and defeat this legislation.

1. Attorney General Charlie Crist received the GOP nomination for Governor. In his debate
with Tom Gallagher he highlighted his support for full portability.

2. I will testify on October 17th, in Miami, before the Governor's Property Tax Task Force.
While Gov. Jeb Bush will not be in office for our next session, it will be helpful if the
Task Force report supports our position.

3. I have written a letter asking Gov. Bush to include portability should he call for a Special
Session in October. (copy of letter printed below.)

4. A coalition of Property Appraisers has initiated a process to modify the current version
of SOH portability and place it on the ballot via Citizens Initiative. While their version has a
cap, it does include statewide portability.

I noted in the newspaper the possibility of you calling a Special Session to deal with the insurance crisis. I can assure you that in my district, a responsible solution would be most welcome. I would like to suggest that when such a a session is held, that the call be extended to include property tax reform, in particular Save Our Homes (SOH) portability.

As you will recall, three years ago when I first mentioned this to you, I indicated that I thought it was unfair that citizens are locked into their homes because of the financial disincentives created by high taxes. Also, I mentioned to you at that time, that this fiscally responsible legislation would not eliminate a single dollar which is now collected at the state and local level, and would help inoculate falling home sales against an inevitable weakness in the housing market caused by rising interest rates.

Recent data suggests that the housing market is in very difficult straights. Experts suggest that in the next year, over $1 trillion of low interest ARMS or non-interest paying mortgages will roll over to 3+ higher interest rates, surely causing some foreclosures and putting more products on the market. Housing is estimated to have created 30% of the job growth in the last two years. Clearly, it is a critical industry and in need of some assistance at the moment.

My Portability Bill will clearly increase real estate transactions. Moreover, it may well have the added benefit of providing more affordable homes in counties where $200,000 and $300,000 homes are being kept off the market because the owners, while desiring to move, cannot afford the adverse consequences of higher tax rates.

Since I initially introduced this legislation, it has received favorable bi-partisan support from many legislators. However, a handful of ardent opponents have continued to stop it from being voted on in the full chamber. As you know in last week's debate, Attorney General Charlie Crest stated that he supports the Save Our Homes legislation, which I developed. I have held eight (8) public forums around the state to discuss property tax reform. Portability is generally widely accepted. Among state-wide elected officials, only Fred Brummer, an avowed opponent of the SOH amendment opposed this legislation.

It is clear that there is a division between those who want this legislation restricted to within county moves and those who believe the moves should be state wide. Obviously, I would prefer the latter, but in the legislative process the direction which most citizens support would be what I would propose to be placed on the ballot for consideration as soon as possible.

I thank you for your consideration in this matter and urge you to hesitate no longer in providing relief to the thousands of citizens who are locked in their homes as well as the home builders, real estate agents, mortgage bankers, movers and many other workers who would be positively affected by a significant up-tick in the real estate transactions.

Best regards,

CARL J. DOMINO
MAJORITY WHIP
DISTRICT 83

CALL OR WRITE THE ABOVE REPRESENTATIVES TODAY. IT IS UP TO US HOMEOWNERS TO PROTECT OUR HOMES AND REDUCE OUR TAXES.

Representative Carl J. Domino
District 83
Suite 520
3300 PGA Blvd.,
Palm Beach Gardens, FL 33410
Tel: (561) 625-5176
e-mail: carl.domino@myfloridahouse.gov
Carl Domino, is the state representative for District 83, which encompasses much of North Palm Beach County. A Republican, he is a graduate of Florida State University, and holds an MBA from Harvard Business School .

Shall the Florida Constitution be amended to allow Broward
County residents, for purposes of ad valorem real estate taxes, to
transfer the amount of their Save Our Homes homestead value
limitation to the assessed value of a newly-acquired homestead
exempt property within Broward County, as provided by law?
(SELECT ONE ONLY)

X YES (Florida Constitution should be amended)
- NO (Florida Constitution should not be amended)